USA Swimming Exec Dir Chuck Wielgus Dies Orlando Pride Do Not Sell Out Marta's Debut S.F. Sports Legends Given Street Names Near Candlestick Cubs Fans Buy Up Replica World Series Rings Target Field Named First Gold LEED Certification In U.S. Tim Howard Issues Apology Following Fan Altercation A's To Reveal New Ballpark Site In '17 Bettman Insists NHL Will Not Go To PyeongChang ESPN Events Purchases Miami Beach Bowl Triple-A Isotopes Trying One-Day Rebrand
CART Inc. will begin public trading today under the symbol "OPW" when 4.7 million shares are offered in an IPO. Shares were priced at $16. CART said it plans to use the net proceeds from the IPO, expected to be more than $63M, to purchase the Indy Lights racing series and pay "certain obligations" to existing race teams. It will use the remaining proceeds for "working capital and other general corporate purpose, including funding future acquisitions and developing racing related businesses and properties" (CART).